Global food and beverage giant Nestlé has dismissed CEO Laurent Freixe with immediate effect, following an internal investigation into a romantic relationship with a direct subordinate-a violation of the company’s Code of Business Conduct.
The probe was overseen by Chairman Paul Bulcke and Lead Independent Director Pablo Isla, in coordination with independent external counsel.
“This was a necessary decision,” said Bulcke. “Nestlé’s values and governance are the bedrock of our company. We thank Laurent for his years of dedicated service.”
In the wake of Freixe’s abrupt departure, Philipp Navratil has been named Chief Executive Officer. Navratil, a Nestlé veteran with a strong track record in driving performance across markets, is expected to maintain the company’s strategic direction while accelerating operational efficiency.
“Philipp is known for delivering results in complex environments. He leads with energy and inclusiveness, and inspires confidence across teams,” Bulcke added. “The Board is fully confident in his ability to advance our growth agenda without disrupting momentum.”
Reacting to his appointment, Navratil stated, “It’s an honour to lead Nestlé at this pivotal time. I fully support the current strategy and performance roadmap, and I am committed to driving value creation with urgency.”
He further emphasized collaboration: “I look forward to working closely with our global leadership, the Board, Chairman Paul Bulcke, and Chairman-Designate Pablo Isla to execute our vision with intensity and integrity.”
Nestlé confirmed there would be no changes to its ongoing strategic initiatives.
